Course Title: Administer insurance for strata communities

Part B: Course Detail

Teaching Period: VE 2018

Class Number: All

Class Section: All

For flexible terms and optional semesters, a Part B course guide may have been published for the entire teaching period, or for the specific class number in which you are enrolled. If there is no Part B course guide published for your specific class number, please refer to the guide for the teaching period in which you are enrolled. Enrolment Online is the definitive source for details regarding your class enrolment.

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

NIL

Course Description

This unit of competency specifies the outcomes required to administer insurance for strata communities in line with strata community instructions. It requires the ability to identify the community’s insurance requirements, place the suitable insurance, assist with lodging insurance claims, and review insurance arrangements.

The unit supports the work of those involved in administering insurance for strata communities. It applies to strata managers.

Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

CPPDSM4084 Administer insurance for strata communities

Element:

1. Establish legislative requirement for insurance.

Performance Criteria:

1.1.

Research and access legislative requirements for insurance for each strata community.

1.2.

Organisational requirements for arranging insurance for individual strata community are identified.

Element:

2. Clarify insurance requirements for strata community

Performance Criteria:

2.1.

Legislative insurance requirements for strata community are communicated to strata community.

2.2.

Information on optional insurance cover is provided to strata community.

2.3.

Relationships with insurers and insurance brokers are disclosed to strata community.

2.4.

Information on extent of insurance cover is communicated to individual lot owners.

2.5.

Situations requiring specialist advice are identified and assistance is sought as required.

2.6.

Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee.

2.7.

Insurance proposal documentation is completed.

Element:

3. Arrange valuation of asset for insurance purposes

Performance Criteria:

3.1.

Source documents are obtained.

3.2.

Information on assets to be insured is gathered.

3.3.

Valuation specialist is engaged to advise on value of asset.

3.4.

Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval.

3.5.

Information on value of asset is provided to strata community and as required to insurer.

Element:

4. Place insurance

Performance Criteria:

4.1.

Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community.

4.2.

Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements.

4.3.

Insurance quotations and associated documentation are communicated to the strata community.

4.4.

Adequate insurance policies and cover are acquired in line with instructions from the strata community.

4.5.

Certificates of currency for insurance policies for strata community are maintained and stored securely.

4.6.

Potential risks are monitored and communicated to strata community and strata community’s insurer.

Element:

5. Assist with lodging insurance claim

Performance Criteria:

5.1.

Assistance is provided to strata community to make insurance claim.

5.2.

Documentation to support insurance claim is lodged with insurer or insurance broker.

5.3.

Roles and responsibilities of insurance assessors are recognised.

5.4.

Insurance claim records and relevant information are securely stored.

Element:

6. Review insurance arrangements.

Performance Criteria:

6.1.

Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.

6.2.

Business equipment and technology are used to maintain and securely store insurance documentation.

Learning Outcomes

On completion of this, course you should be able to:1. Establish legislative requirement for insurance. 1.1 Research and access legislative requirements for insurance for each strata community. 1.2 Organisational requirements for arranging insurance for individual strata community are identified.2. Clarify insurance requirements for strata community. 2.1 Legislative insurance requirements for strata community are communicated to strata community. 2.2 Information on optional insurance cover is provided to strata community. 2.3 Relationships with insurers and insurance brokers are disclosed to strata community. 2.4 Information on extent of insurance cover is communicated to individual lot owners. 2.5 Situations requiring specialist advice are identified and assistance is sought as required. 2.6 Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee. 2.7 Insurance proposal documentation is completed.3. Arrange valuation of asset for insurance purposes. 3.1 Source documents are obtained. 3.2 Information on assets to be insured is gathered. 3.3 Valuation specialist is engaged to advise on value of asset. 3.4 Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval. 3.5 Information on value of asset is provided to strata community and as required to insurer.4. Place insurance. 4.1 Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community. 4.2 Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements. 4.3 Insurance quotations and associated documentation are communicated to the strata community. 4.4 Adequate insurance policies and cover are acquired in line with instructions from the strata community. 4.5 Certificates of currency for insurance policies for strata community are maintained and stored securely. 4.6 Potential risks are monitored and communicated to strata community and strata community’s insurer.5. Assist with lodging insurance claim. 5.1 Assistance is provided to strata community to make insurance claim. 5.2 Documentation to support insurance claim is lodged with insurer or insurance broker. 5.3 Roles and responsibilities of insurance assessors are recognised. 5.4 Insurance claim records and relevant information are securely stored.6. Review insurance arrangements. 6.1 Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.Business equipment and technology are used to maintain and securely store insurance documentation.

Details of Learning Activities

Students will be accessing online materials and resources.

The program area is designed with interactivity utilizing drop down information through online presentations. This information is packaged within videos and text.

The learning material is accessed via Canvas (RMIT Learning Management System or LMS).

Interaction with other students is encouraged through Google Communities to engage with other students and facilitate their learning.

Online support and feedback is provided by educators via both Canvas and Google communities to assist in learning activities

Teaching Schedule

Students are expected to engage in online learning at their own pace within the 12 month delivery period of the program.

The program area is structured to provide sequential learning. Please see the assessment matrix below.

Learning Resources

Prescribed Texts

References

Other Resources

Overview of Assessment

Assessment may include but not limited to a variety of methods including written short answers, assignments, online quizzes, interactive tasks and multiple choice questions. You will be asked to demonstrate to your teacher/assessor the skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.

Assessment Tasks

This unit of competency is part of an integrated program. You must demonstrate Performance and Knowledge evidence of the unit in order to be deemed competent.

Assessment methods have been designed to measure achievement of each competency over a range of assessment tasks.

The assessment methods may include:

multiple choice

online quizzes

short answer questions

written tasks

assignments

case studies

workplace evidence

Feedback will be provided to you throughout the program through Canvas and/or Google communities.

All assessment tasks must be submitted within the given time frame to avoid timing out.

The assessment mapping demonstrates alignment of assessment tasks with the elements and performance criteria as stipulated in the unit of competency. The assessment matrix is available on Canvas with links to the Assessment task sheet(ATS).